TREE NEWS update: The SEC proposed its first major overhaul of transfer agent rules since the 1980s, allowing blockchains to serve as the official record of share ownership. The proposal rescinds one rule, adds two new ones, and imposes risk-management and cybersecurity duties on firms that keep ownership records.
SEC Proposes Blockchain-Based Share Ownership Records
AI take
This marks a formal regulatory bridge between traditional equity infrastructure and blockchain rails, potentially reshaping the custody and settlement layer for public securities. The added risk-management and cybersecurity obligations signal that the SEC views distributed ledgers as operationally critical, not experimental. The open question is whether the proposal's compliance burden will deter smaller transfer agents or accelerate consolidation among tech-enabled firms.
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